Let me tell you about a company that can bring down Xiaomi Group and BBK Electronics. And yes, I am not talking about Samsung here. Here I am talking about the company that has recently come to the list of the top 5 companies in the world. And you know the name of the 5th position post is Transsion Holding.
Now most people will not know that a company has been made here. But you will see the phones and brands of this company. If we talk about it, they have ITEL, TECNO, and INFINIX. You must have heard about the phones of these companies. And have you ever thought about who buys their phones here? And they have shown such rapid growth that they have come in the top 5. And if it continues like this, then it is possible that in the future, they can leave BBK Electronics and Xiaomi behind. Look, Transsion Holding is a Chinese company. But INFINIX and TECNO are companies with a perfect position in the market.
If I talk about INFINIX, then INFINIX is one of the fastest-growing brands in India. Even INFINIX comes in 10th position among India's top 10 brands. And TECNO comes in 9th position. But TECNO also has to say that they plan to take 7% of the market in the coming time. And the plan is to become India's top 5 brand. And these people are completely changing their identity.
If I analyze all the phones of TECNO this year, then I can tell you one thing. TECNO has launched more than 20 phones this year. And the majority of the phones launched are in the premium range. And TECNO's plan is from mid-range to premium range. This is to touch the price point of $270 to $1,350. TECNO wants us to have a foldable phone for $1,350 and a phone in the home market for $270.
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And some phones came here that looked a little exciting. The hardware behind it was unique; someone used to change the color, someone had a special camera, and someone had LED lights. These people are doing this step very well. But do you know where the problem comes from? The problem comes from the brand image. See what TECNO was doing last year. They were only launching budget phones. And most of the phones here were launched in the range of $135. And if a company jumps from budget to premium, then there are problems.
ample. Redmi had a lot of problems. Redmi started with a budget and needed help to crack the expensive. Realme also had a problem. Making a costly product for a company and getting it cheap is easy. Apple has done this. I took out the iPhone and then took out the iPhone SE cheaply. So it can be sold. But a company making a phone for $135 suddenly takes out a phone for $1,350. This isn't easy. And who would have taken TECNO's foldable phone for $1,080?
Okay, they are doing a good job. If the product is good in the market, people will also get something beneficial. Because people today do not run after cheapness. They run after value for money. If a person is giving $540 and if he is getting an experience of $1,350 at that price. That product can be sold here. The market has changed in this way. People are now running after value for money. And this is what has happened in India. That's why expensive phones are also selling here. Anyway, let's talk about one more thing. But after this, I can speak about Infinix. Look, Infinix has become a tech enthusiast brand today. That is, it is also getting phones under $270. They are doing a good job on things like focus and specification on hardware. And if you look at it, they have heard a lot of feedback. And they are delivering a good product here.
But I will talk about some fundamental problems by combining TECNO and Infinix. The first thing is the absence of a Snapdragon processor. When was the last time TECNO and Infinix showed a Snapdragon processor? I am trying to remember. Along with this, the next problem is the camera. Look, both companies say that our cameras have this and that. There is a sensor of 108 MP and a sensor of 200MP. But the truth is that whichever price point their phones come at. Their phone cameras are always kept in a better camera. This is a simple thing because their cameras could be better.
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Even if you think about it, how many phones of Infinix have you seen that have an ultra-wide-angle lens? Can you tell us about it? There are such fundamental problems with them that need to be fixed. After this, we need to talk about the user interface. Which still needs to be updated. They need to change their UI and UX completely. Infinix has recently reduced bloatware. But still, a lot of work is left on the user interface. Because if a company is making an expensive phone, it is also its responsibility to give a premium user experience there. In addition to this, Techno Infinix needs to catch up in the matter of updates. A company like Samsung sometimes competes with Google in giving updates. Techno Infinix, we often need to remember when we will see an update on their phone.
Anyway, these are some fundamental things related to products. They can move a lot in the market if these things are fixed. Because the hardware is coming very strong, but it needs software to back it up. It would be amazing. If I talk about India, the average selling price of mobile phones has increased. This means that people are buying more expensive phones than before. What exactly happened is that the costs of phones have improved here. Where good phones used to be sold for less than $270, now it is in the $340-540 range.
That's why every company is trying to sell their phones at a high price. So their phones come at a high price. And the simple reason is that the phones that come in the budget, their quality is not that good anymore. They need good features. And if anyone wants a good phone, they must spend more. And the EMI schemes in India have helped all this. So that people can use EMI to buy expensive phones. Its impact will be that most companies will launch their costly products. But somewhere, there will be a halt here. After which there will be a significant gap in the market.
But if we talk about it, Infinix and Teclo are still growing. But if we look at it now, their reputation in the market still needs to be such that they can call themselves totally premium. Look, it is effortless to get phones in the budget here. But when it comes to premium, then it comes to brand value or brand name. People sometimes buy a phone by looking at the brand. If you have only taken off the product's price and there is no brand, it may be tricky for it to run. I can only say one thing about these two companies. That Tecno and Infinix here are only focusing on making good products. And see what people want. If they catch people and catch people's requirements, then no one can stop this company from moving forward. But if we talk about the current situation, that will take some time for that to happen. If you guys wonder why I didn't talk about it, they mainly make feature phones and budget phones. And they have marketed below $135.
However, the Transsion Holdings that has been seen on the global level of this company was due to emerging markets. Because let me tell you one thing, all the other companies, whether it's Xiaomi or BBK, these people are focusing on those markets which are already established and are taking out their expensive phones there. But then, Transsion Holding concentrated on the emerging market. Like South East Asia, some African countries, they have focused here. Even the global smartphone market is on a decline. Some African markets are still showing positive growth. And because of them, they have come to the list. But they will be able to compete with premium brands by being mainstream.
For that, we will have to wait here. The rest will be to see whether Techno Infinix will ever be so big that Xiaomi, Vivo, and Oppo can compete with BBK. This will be to see. Remember to tell your opinion in the comments below. Thank you for reading the blog. I will see you in the next one. Goodbye.